Singapore’s Central Business District (CBD) remains one of Asia’s most coveted office markets, but not all areas are created equal. In 2025, the two heavyweight clusters—Raffles Place and Shenton Way—continue to compete for attention from startups, SMEs, and multinational corporations alike. But which one offers the best value?
Let’s explore rental prices, amenities, tenant mix, and the hidden perks of each district to help you make the right move.
Rental Price Comparison (Q1 2025)
| Location | Grade A Office Rent (psf/month) | Vacancy Rate (%) | Lease Flexibility | Avg. Space Available |
| Raffles Place | S$11.80 | 5.5% | Medium | 2,500–5,000 sq ft |
| Shenton Way | S$10.20 | 7.1% | High | 1,500–3,500 sq ft |
Sources: JLL, CBRE Singapore Market Snapshot Q1 2025
Verdict:
While Raffles Place commands higher rents, it also offers lower vacancy and slightly larger available spaces. Shenton Way, on the other hand, is a price-conscious option that still maintains excellent CBD access and growing popularity among agile companies.
Location & Accessibility
Raffles Place is Singapore’s traditional financial hub, well-connected by MRT (North-South & East-West lines) and within walking distance of Marina Bay and Boat Quay. It’s home to top-tier tenants such as global banks, legal firms, and consulting giants.
Shenton Way has emerged as a modern alternative with newer developments like OUE Downtown, V on Shenton, and the upcoming AXA Tower redevelopment. Served by the Thomson-East Coast Line and Downtown MRT, it’s appealing to tech firms, family offices, and co-located data services.
Tenant Profile Breakdown
| Cluster | Typical Tenants | Building Profile |
| Raffles Place | Finance, Legal, MNC HQs | Prestige towers, historical CBD |
| Shenton Way | Tech, Media, Private Equity, Startups | Grade A/AB towers, newer builds |
Amenities & Lifestyle
Raffles Place boasts an established network of business lounges, banking halls, and elite dining. You’ll find iconic buildings like One Raffles Place, Republic Plaza, and Ocean Financial Centre offering panoramic city views and polished interiors.
Shenton Way is evolving quickly with newer F&B concepts, boutique fitness studios, and flexible office options. It’s slightly more walkable, with convenient connections to Chinatown, Tanjong Pagar, and future CBD fringe revitalization projects.
What Tenants Are Saying in 2025
- “We moved to Shenton for the flexibility and newer facilities—it’s less corporate, more agile.”
- “Raffles Place still gives us the credibility we need when clients visit our HQ.”
- “Shenton Way offers the best of both worlds: proximity to CBD perks without premium price tags.”
Which Offers Better Value?
It depends on your priorities.
- Choose Raffles Place if you value prestige, a high-end corporate setting, and proximity to finance sector peers.
- Opt for Shenton Way if you’re looking for modern infrastructure, lower rents, and greater lease flexibility.
Startups and SMEs lean toward Shenton Way, while established corporates still gravitate to Raffles Place’s address cachet. Hybrid teams benefit from both areas’ growing selection of coworking hubs and serviced offices.
Find the Right Office with MatchOffice
Navigating Singapore’s CBD options in 2025 doesn’t have to be overwhelming. Whether you’re expanding your footprint, downsizing, or seeking your first HQ, MatchOffice helps you compare premium offices, flexible spaces, and coworking plans in Raffles Place, Shenton Way, and beyond.
Make a smart move today. Explore our office listings and find a space that grows with your business.